Stocks Are Slipping — Yahoo And Alibaba Are Getting Slammed

It's nothing too dramatic, but the S&P is off 0.8%, the NASDAQ is off 1.3%, and the Russell 2000 (small caps) is off 1.6%.

Alibaba, which just became public on Friday, is off over 4%. Yahoo, which is something of a proxy for Alibaba because it owns so much of it, is down nearly 6%.

Yahoo is now down over 10% in just the two latest sessions as investors appear to be "selling the news" with regards to Alibaba.

Shares of Yahoo had been surging in recent weeks on anticipation of the Alibaba IPO, so when the IPO finally hit, it wasn't much of a surprise.

The selloff comes at a time when a lot of attention is being paid to the Fed, rising interest rates, and a stronger dollar. It also comes as commodities hit a five-year low, possibly an indication of slower global growth.